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Luoxin Pharma's Unit Fined 1.9 Million Yuan for Substandard Drug; Shares Up 3%

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Luoxin Pharmaceuticals Group's (SHE:002793) unit, Shandong Luoxin Pharmaceutical Group, was ordered to pay a fine of 1.9 million yuan for selling a substandard drug, according to a Shenzhen bourse filing on Wednesday.

The batch of azithromycin for injection produced in May 2024 was found to have failed to meet pharmacopoeia standards due to storage conditions exceeding required standards.

The pharmaceutical company recalled the batch after the order.

Luoxin's shares rose 3% during the afternoon trade.

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